Nigeria’s week in stocks ended on a bearish note, despite a few standout performers.
The All-Share Index tumbled 3,290.97 points, closing at 143,722.62 and extending its four-week losing streak.
Market Overview
Trading activity slowed sharply, as investors exchanged only 2.6 billion shares worth ₦106.2 billion.
Consequently, market capitalisation dropped to ₦91.4 trillion from ₦93.5 trillion, signalling widespread investor caution across sectors.
Only 20 equities recorded gains, while 60 declined and 67 remained unchanged, highlighting the market’s uneven performance.
Monday opened the week poorly, with a 1,853-point fall setting a negative tone for investors.
By Tuesday, the index slipped below 145,000, and declines continued steadily until Friday, settling under 144,000.
Sector Performance
Heavyweights dragged the NGX Premium Index down 4.79%, as ACCESSCORP, DANGOTE CEMENT, UBA, and ZENITH BANK lost value.
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Insurance stocks suffered further, with INTERNATIONAL ENERGY INSURANCE dropping 22.06%, while other major insurers posted double-digit losses.
Industrial Goods and Banking sectors also weakened, pressured by DANGOTE CEMENT, CUTIX, BERGER PAINTS, and ACCESSCORP.
Meanwhile, Oil & Gas and Consumer Goods sectors fell modestly by 1.61% and 0.44%, respectively.
Standout Stocks And Corporate Updates
Amid these declines, NCR (Nigeria) Plc stood out, gaining 60.55% to close at ₦41.10, followed by UNIVERSITY PRESS with a 17.65% rise.
Other notable winners included Tantalizers, Caverton Offshore, UACN, Ikeja Hotel, Union Dicon Salt, and Prestige Assurance.
In contrast, laggards included INTERNATIONAL ENERGY INSURANCE, MCNICHOLS, VERITAS KAPITAL, AIICO, and NEM INSURANCE, all posting steep losses.
Corporate updates also captured attention: Unilever appointed a director, Multi-Trex released financials, and FCMB increased its capital ceiling to ₦400 billion.
Moreover, Champion Breweries published its half-year audited results, providing modest corporate news amidst market uncertainty.
Despite ongoing bearish pressure, rallies in select mid- and large-cap stocks could help the market regain 150,000.
Therefore, investors will watch closely next week, seeking signals of renewed confidence or further declines.
